Broadcom (AVGO) Announces $10B Share Buyback

Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced its Board of Directors has authorized the repurchase of up to $10 billion of its common stock under a new share repurchase program. The authorization is effective until December 31, 2022.

"The initiation of a new share repurchase program reflects the confidence of the Board of Directors in Broadcom's strong cash flow generation and provides us with a complementary tool to deliver value to our stockholders," said Kirsten Spears, CFO of Broadcom Inc.

Repurchases under the new share repurchase program may be made through a variety of methods, including open market or privately negotiated purchases. The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities and other factors. Broadcom is not obligated to repurchase any specific amount of shares of common stock, and the share repurchase program may be suspended or terminated at any time.

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